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The ABS has just released the March quarter national accounts and it’s a beat with 0.9% versus expected 0.7% and 0.5% in December. And 2.3% annual versus 2.1% expected and 2.5% in December.
MARCH KEY FIGURES
 | |
Dec Qtr 2014 to Mar Qtr 2015 |
Mar Qtr 2014 to Mar Qtr 2015 |
| |
% change |
% change |
|
| |||
| GDP (Chain volume measure) | | | |
| Trend |
0.6 |
2.2 |
| Seasonally adjusted |
0.9 |
2.3 |
| Final consumption expenditure (Chain volume measure) | | | |
| Trend |
0.6 |
2.4 |
| Seasonally adjusted |
0.5 |
2.4 |
| Gross fixed capital formation (Chain volume measure) | | | |
| Trend |
-1.3 |
-4.1 |
| Seasonally adjusted |
-1.2 |
-3.4 |
| GDP chain price index | | | |
| Original |
– |
-1.0 |
| Terms of trade | | | |
| Seasonally adjusted |
-2.9 |
-11.4 |
| Real net national disposable income | | | |
| Trend |
0.1 |
– |
| Seasonally adjusted |
0.2 |
-0 |
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Solid net exports, a little contribution from households and inventories, as well as only a small decline in investment for a good number.
More to come.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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